IEA revises China oil outlook for 2010
The International Energy Agency (IEA) has revised its global oil demand forecast for the second time this year, following a double digit upwards surge in China’s year-on-year apparent oil demand in January.
Global oil demand has been revised upwards by 70,000 barrels per day (b/d) for both 2009 and 2010 on higher‐than‐expected non-Organisation for Economic Co-operation and Development (OECD) data, says the IEA in its monthly Oil Market report.
Global oil demand is now estimated at 85.0 million b/d in 2009, and is expected to rise to 86.6 mb/d in 2010.
"This year's global oil demand growth will be
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